A former hotel in Brookwood, Surrey, has been transformed into a mixed-use asset of homes and offices, with Blackfinch Property completing a £3.2m commercial facility to refinance the completed scheme and support the borrower’s next stage of ownership.
The five-year term facility refinances an existing development loan following the successful completion of the project which now comprises seven residential apartments, three new-build houses and office space.
Having completed the redevelopment, the borrower identified an opportunity to retain the asset and build a long-term income-producing portfolio. Blackfinch Property structured the facility to support that transition.
The transaction required a practical approach, with residential and commercial elements sitting within the same facility. Working closely with the borrower and broker, the Blackfinch Property team delivered a tailored structure that refinanced the existing development loan while giving the borrower time to stabilise occupancy and reduce leverage over the facility term.
The asset sits in a strong Surrey location with excellent transport links, including direct access to London Waterloo from nearby Brookwood railway station. The scheme also benefits from strong energy performance, with the residential units achieving Energy Performance Certificate (EPC) C ratings and the office accommodation achieving EPC B. This leaves the property well positioned for anticipated 2030 EPC requirements.
“This transaction demonstrates how flexible funding can support a developer’s evolving business strategy. Following the successful completion of the redevelopment, the borrower identified an opportunity to retain the asset and establish a long-term income-producing portfolio. By working collaboratively with the borrower and broker, we were able to structure a solution that refinanced the existing development facility while supporting the borrower’s move into long-term ownership. We look forward to building on this relationship and supporting future opportunities as they arise.”
Nicola Mayes, Senior Investment Manager at Blackfinch Property
Anya Turk, Junior Investment Analyst at Blackfinch Property, also supported the transaction, carrying out the analysis that helped shape the funding structure and inform the team’s due diligence.
The deal came through a new broker relationship, Corrado Vulpio at Bespoke Business Finance, and has already led to a second successful transaction, reflecting the strength of Blackfinch Property’s clear, responsive and collaborative approach.
For Blackfinch Property, the facility shows how the right structure can support a borrower beyond completion. With the redevelopment finished, the team refinanced the existing development loan and helped the borrower move forwards. The result is a completed mixed-use asset with the time and flexibility to stabilise, generate income and help the borrower move forward with their long-term plans.
